Intraday Report: PKR drops by 62 paisa against USD

MG News | May 10, 2022 at 10:18 AM GMT+05:00

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May 10, 2022 (MLN): The steep decline of the Pakistani rupee (PKR) continued in the intraday trade on Tuesday as the currency has lost 62 paisa against the US dollar on the back of troubled macros.

The dollar was being quoted at 188.13/ 188.28 (10:19 PST) when compared to the previous day’s close of 187.53 against the greenback.

Sadly, there is no easy way left and the economy is almost irreparable, Asad Rizvi, the former Treasury Head at Chase Manhattan Bank said.

"The economy will not recover from patchwork, it has to generate income. Nothing less. Honestly, we need a decade to repair the damage caused due to various reasons," he added.

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